Basel II changes risk management in banks strongly. Internal rating procedures would lead one to expect that banks are … Basel Accord in this article we introduce some basic ideas of game theory in the context of rating procedures in accordance …

The time-continuous discrete-state Markov process is a model for rating transitions. One parameter, namely the … intensity to migrate to an adjacent rating state, implies an ordinal rating to have an intuitive metric. State … between the rating states. A Taylor expansion reveals consistency and asymptotic normality of the parameter estimates …

This paper provides a new interpretation of the early rise of rating agencies in the United States (initially known as …

with the same rating given by the British Fitch agency, which specialises in analysing Central and East European markets …

the rating and the underlying decision processes of the respondents. Selected implications for researchers and higher …